Here's something you may not know. Skil is owned by Bosch. There's been a lot of consolidation in the cordless drill market over the last several years and Bosch purchasing Skil was part of that. But that doesn't mean you should think "hey, now I can get a Bosch drill for the price of a Skil." That's not how it works. The reason cheap cordless drills are cheap is because they cost less to manufacturer, which means the product isn't going to be a good as a drill with more expensive materials and manufacturing process. I would not consider Skil a cheap cordless drill. They're about in the middle between the cheap drills and the top of the line drills. And sometimes that's exactly what you want. Although I usually only review "top of the line" drills, I made an exception here.
First off, with a price tag of just over half that of the 1st tier drills there are something you'll miss out on. This kit only comes with 1 battery. It's a lithium-ion battery, but there's still just one. Since batteries are expensive, if you wanted to purchase a second battery, you might as well get a real Bosch 18 volt. But if this drill is mainly for home use, yet you think you'll need the 400 in-lbs it provides to drive some heavier lag screws, then maybe this is a good choice. There's also no LED light. But apart from those two things, you get everything else. A case, the charger, a clutch, and it even has a bit holder. It also has a removable side-bar for extra stability in high torque situations. So the big factor here is that it only comes with one battery.
So what about the quality? Well, it's not a cheap drill that's going to fall apart on you the first time you use it. Like I said before, this drill is well above the bottom tiers. That said, it is noticeably below the Bosch's, Makita's, and Milwaukee's. But since the main factor in your decision to buy this drill should be that you're only going to use it enough to warrant a single battery, then I'd say the quality is just right for the price and the intended use case. So if $160 is just too much, but you want a decent product with good torque, then give the Skil 2898LI-02 a look.